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The Harvard Law Record

Independent at Harvard Law School since 1946

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The only way to solve the bonus problem is to recognize Wall St. has no shame

Last week, President Barack Obama '91 called the payment of over $18 billion in bonuses to Wall Street executives last year "shameful," and his response this week was to announce a salary cap of $500,000 in 2009 for all firms that are receiving Troubled Asset Relief Program (TARP) bail-out funds.

By The Record

BY MATT HUTCHINS

Last week, President Barack Obama ’91 called the payment of over $18 billion in bonuses to Wall Street executives last year “shameful,” and his response this week was to announce a salary cap of $500,000 in 2009 for all firms that are receiving Troubled Asset Relief Program (TARP) bail-out funds.